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Ambar Singh Roy

Kolkata, April 10 Ferro alloys and ferro chrome producer IMFA Group has firmed up plans to invest Rs 170 crore in setting up a 30 MW power plant and a new 30 MVA furnace at its manufacturing facility located at Choudwar, Orissa. The proposed investments would be made from internal accruals and debt.

IMFA, India’s largest producer of ferro chrome and ferro alloys, already operates five furnaces at Choudwar and Therubali, also in Orissa. The five furnaces have a combined capacity of 157 MVA (mega volt amperes). Orders have been placed for a new 30 MVA furnace, the setting up of which will entail an investment of Rs 60 crore.

The new furnace is scheduled to be commissioned by the fourth quarter of 2008-09, according to Mr Subhrakant Panda, Managing Director of the IMFA Group of Companies.

Mr Panda told Business Line a 108 MW captive power plant was already operational in Choudwar. A new power plant of 30 MW capacity was being set up there at an investment of Rs 110 crore. It would run on coal and coal washery rejects and waste heat gas that would be recovered. The new power plant, too, would also go on stream by the last quarter of 2008-09.

According to him, while IMFA requires about 100 MW of power to operate both its Choudwar and Therubali plants, a new 30 MW power plant was being set up “to facilitate better furnace utilisation and meet the requirements of the new furnace”.

IMFA produces 170,000 tonnes of ferro chrome and 18,000 tonnes of ferro silicon a year. The Group, which clocked a turnover of Rs 590 crore in 2006-07, has pegged a turnover of Rs 700 crore in 2007-08.

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